The Polish currency fell versus most of the main currencies from outside the European Union as the emerging budget problems in the region and an economic slow down among its trading partners decreased appetite for assets in the country.
The pound touched the lowest level in 2010 versus the greenback and declined versus most of the 16 main traded currencies as economic stimulus are likely to be maintained in the U.K., considering the slow pace of the nation’s economic growth and raising gap in the public accounts.
February 18th, 2010 at 19:14
The British pound was one of the worst performing currencies today in foreign-exchange markets as its monthly budget deficit for January decreased appeal for assets in the country and fueled speculations that economic stimulus will be need for a longer period to help the kingdom’s economy to grow.
The growing problems of budget deficits are not an exclusivity among EU countries using the Euro, as several of its eastern nations, as in the case of Hungary, have a budget deficit much above the maximum tolerated by the European Central Bank, affecting the nation’s currency performance.
It seems that another week of downtrends has started today for the European single currency, as EU officials suggested that Greece will have to implement a harder budget-cut policy in order to be helped by the bloc’s financial authorities to end its growing fiscal crisis.
The euro ended another week losing versus most of the 16 main trading currencies as a concrete rescue plan for several Eurozone members budget crisis hasn’t been proposed by government officials, bringing pessimism and declining confidence among traders to invest in the region.
February 11th, 2010 at 21:10
The euro tumbled today after an EU summit in which traders were frustrated by lack of initiative from other bloc’s members to help Greece to prevent its budget crisis to worsen, impacting the continent’s single currency attractiveness, as the region’s economic outlook remains uncertain.
February 09th, 2010 at 22:03
The euro rallied significantly versus currencies of its main trading partners today on speculations that the European Union will help Greece to end its financial crisis, affecting the single currency outlook in foreign-exchange markets in a positive way after weeks of pessimism.
February 09th, 2010 at 3:27
The euro remained trading near 2010 record lows reached last week as the fiscal health of several Eurozone member countries is putting the single currency under pressure before an ECB monthly bulletin to be released on Thursday this week.
February 06th, 2010 at 4:54
The euro ended this week posting a weekly drop versus most of the main currencies as the financial situation in several Eurozone member countries is damping demand for the single currency, after a sense of instability became predominant in the economic bloc.